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Mar 31, 2022
Extreme Networks Q3 2022 Earnings Report
Achieved record bookings and revenue with SaaS ARR approaching $100 million and product backlog exceeding $425 million.
Key Takeaways
Extreme Networks reported strong Q3 fiscal year 2022 financial results, achieving record bookings and revenue. The company's SaaS ARR is approaching $100 million, and its product backlog exceeds $425 million. They expect FY23 Revenue Growth of 10-15%, accelerating to Mid-Teens Through 2025
Revenue reached $285.5 million, a 13% increase year-over-year and a 2% increase quarter-over-quarter.
SaaS ARR reached $97 million, a 54% increase year-over-year and a 10% increase quarter-over-quarter.
GAAP EPS was $0.10, up from $0.03 in Q3 last year.
Non-GAAP EPS was $0.21, up from $0.16 in Q3 last year.
Extreme Networks
Extreme Networks
Extreme Networks Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.com Forward Guidance
For its fourth quarter of fiscal 2022, ending June 30, 2022, the Company is targeting revenue between $265.0 and $275.0 million and net income per diluted share between $0.02 and $0.07.
Positive Outlook
- Targeting total net revenue between $265.0 and $275.0 million (GAAP).
- Targeting gross margin between 55.5% and 57.4% (GAAP).
- Targeting operating margin between 3.1% and 5.5% (GAAP).
- Targeting net income between $2.4 and $9.3 million (GAAP).
- Targeting net income per diluted share between $0.02 and $0.07 (GAAP).
Challenges Ahead
- Operating expenses between $138.6 and $142.9 million (GAAP).
- Targeting total net revenue between $265.0 and $275.0 million (Non-GAAP).
- Targeting gross margin between 57.0% and 59.0% (Non-GAAP).
- Targeting operating margin between 9.1% and 11.4% (Non-GAAP).
- Targeting net income per diluted share between $0.12 and $0.18 (Non-GAAP).